Misys backs gamification to educate next generation on money management
- Blockchain , Banking , Cloud , Infrastructure
- 09.03.2017 07:00 am
Misys is making gamification an integral part of its Misys FusionBanking Essence Digital platform to help banks educate the next generation on better money management. Integrating Moroku’s GameSystem directly into the Essence Digital architecture enables banks to inject some fun into personal financial management (PFM) and help consumers achieve their savings goals.
“Digitalisation has completely changed the way that people interact and we believe the next generation will be more incentivised through gamification,” said Simon Paris, President at Misys. “Supporting better financial management and education in banking is a powerful tool that moves consumer experience beyond the transactional and opens the door to bring people of all age groups into the savings fold. Working with Moroku to apply today’s digital habits to driving better money management makes sense and is an important move as empowering financial literacy is becoming ever more crucial.”
With research suggesting that consumers spend more than one billion hours a month playing mobile games, the case for gamification in helping banks to attract, engage and retain customers is compelling. Banks stand to benefit from building greater trust with consumers and capturing market share. Gamification can also deliver a significant boost to customer experience. FusionBanking Essence Digital brings points, leaderboards and rewards to standard banking activity, to educate and also support savings and spend management.
Colin Weir, CEO at Moroku said, “Banking and finance is rarely considered fun. In fact it is often boring and complex, and can feel unrewarding in the short term. Our software helps banks build and run contemporary digital experiences for their customers. The purpose is to drive engagement, literacy and action by adding a touch of creativity and eliciting an emotional reaction. Integrating our software with Misys expands our reach to bring banks gamification functionality and ultimately help their customers succeed.”
Jost Hoppermann, VP & Principal Analyst, Forrester recently wrote*, “A great banking customer experience (CX) builds on great mobile or omnichannel banking capabilities with polished user interfaces (UIs). While the ability to efficiently and effectively support the configuration of predefined UIs to the individual needs of a bank will grow, Application Development & Delivery teams should not focus purely on channels and UI: They also need to look for gamification and social banking support to enrich the overall CX.”
Previously available as a standalone component, GameSystem (known as Gameo) is now delivered to banks on a single, scalable digital platform through FusionBanking Essence Digital. Available on premise and via the Misys FinCloud, it will further contribute to cost savings whilst ensuring easy upgrade paths and continuous innovation.